North Sea Forties crude differentials were steady on Friday after a deal, while WTI Midland was also unchanged after a lack of pricing indications.

PLATTS WINDOW

Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).

Forties: Total bought from Gunvor Jan. 2-4 at dated plus 49 cents. Total bid Jan. 12-14 at dated Brent plus 65 cents. The average of dated plus 60 cents is steady from Thursday.

WTI Midland: There were no indications on Friday and so WTI is steady at dated plus $1.60 CIF, equal to about dated plus 53 cents on an FOB basis, according to Reuters calculations.

Ekofisk: Equinor offered Jan. 9-11 at dated Brent plus $2.65, equal to dated plus $1.39 when applying the January Platts quality premium, well above the last traded price.

Ekofisk is still the lowest priced grade in the Brent basket, and therefore sets the benchmark, according to Reuters calculations.

This is based on Wednesday’s Ekofisk trade at dated plus $2.15, equal to dated plus 32 cents when applying the Platts quality premium of $1.83 for December cargoes based on Reuters calculations.
Source: Reuters (Reporting by Alex Lawler; editing by Alexander Smith)